Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Share-based Compensation Arrangements

The following table summarizes stock-based compensation expense:

	Years Ended December 31,
	2019		2018
Stock options	$	1,542,644	$	1,059,582
Restricted stock	437,354		—
Total stock-based compensation expense	$	1,979,998	$	1,059,582

The following table summarizes stock option activity:

	Number of Options	Weighted Average Exercise Price per Option		Weighted Average Grant Date Fair Value per Option	Weighted Average Remaining Contractual Life (Years)
Balance December 31, 2017	3,851,371	$	3.11
Granted	340,000	1.18		0.54
Exercised	(52,500)	1.24
Forfeited	—	—
Expired	(271,250)	3.22
Balance December 31, 2018	3,867,621	4.05
Granted	2,450,000	0.96		0.51
Exercised	(736,552)	0.72
Forfeited	(907,500)	4.49
Expired	(948,569)	5.01
Balance December 31, 2019	3,725,000	$	2.32
Number of options exercisable at December 31, 2019	3,069,000	$	2.35		5.4

The following table summarizes restricted stock activity:

	Number of Unvested Shares	Weighted Average Grant Date Fair Value per Share
Balance December 31, 2018	—	$	—
Granted	1,805,222	2.57
Vested	(36,496)	2.74
Forfeited	—	—
Balance December 31, 2019	1,768,726	$	2.57